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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  June 30, 2016 3:00pm-4:01pm EDT

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presented by trades firsthand. i think about my great-grandparents in manchester, new hampshire, those jobs went south and went overseas. liz claman, over to you. liz: it will happen in this hour. we were about to say speaking of this half hour, farewell to the first half and under the circumstances it has been a forceful turnaround as market rally on the last day of the second quarter. merger thursday action didn't hurt but breaking news, this massive takeover suddenly turned from sweet to sour. it is off if you ask the hershey people, no matter, the tao is putting that in the british exit slide in the rearview mirror now on track for fifth straight monthly gain, the tao jumping 260 points. as the market straightened themselves out donald trump is trying to do the same. he is back on the campaign
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trail, as trish mentioned, in new hampshire. we are looking at 28 minutes, donald trump is expected to make waves, slamming trade deals tied to hillary clinton when she was former secretary of state. it is a strategy ripped straight from bernie sanders's playbook. as clinton responds to trade in a way that grabs voters she is seeing her lead over trump widen in the latest fox news poll. our political panel on why trump thinks his twist on trade is a winning issue and dodging the incoming fire. the united kingdom, the house of cards, leadership vacuum growing wider at the top as the most colorful guy running takes his name out of the hat and runs away but have you seen my interview with boris johnson at the london olympics you would have known that was going to happen.
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howard gutman says no matter who is in charge, and wait till what the ambassador says must happen for the european union to survive. less than an hour to the closing bell, let's start the countdown. ♪ liz: breaking news, bittersweet ending before it ever began. the hershey board has unanimously voted to reject the takeover of $100,000 a share. hershey is trading above that at $112 a share. $15. hershey shares are halted. we have monda lees moving up 5-3/4%. it was announced this morning, up 2% and jumping more than
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that. either way the early announcement of a possible deal had consumer stable name surging. do you own these names? we can check them. clorox am a colgate, palmolive, cisco moving higher. more breaking news, really may stun those of you who watched us on foxbusiness when markets went into full-blown panic mode last friday through monday. we have nearly recovered 80% of the losses endured after the united kingdom voted to break away from the european union, the tao of 214, 314. when the tao is up 312-14, 316, we have entirely erased the 900 point loss in two days following the uk vote. we are close to that. should it happen in this hour we are going to be watching it.
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the last trading day of the month, the quarter and the entire first half. it is not over until the final bell rings. just like we want you, the waters of the market were calm her, just over an hour and a half ago the s&p, downgrading the european union credit rating slicing it from aa plus to aa slighting weakening political cohesion in the wake of the brexit vote. the bank of england governor mark carney is the bank of england version of janet yellen, suggesting an interest rate would be likely needed over the summer and the central bank has measures in place to prop up the country's economy and banking sector. as a result, we have seen a spike in us markets because
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markets love the punch bowl central banks put under a lot of investors. something stunning happening as we are about to charge into the second half of the year after a nailbiter, check this for june. positive territory and on track for 6 consecutive monthly gains, the longest winning streak in two years. we have the tao and s&p closing the green for the third straight quarterly advance. the nasdaq looks great but looks like a second quarterly loss in a row. we flip over to the nasdaq, on the lower ticker here. 50 points high, session is a 54 but seeing a gain of 1%. the tao and s&p are in the green. we know about the nasdaq but we have to ask what kind of peptalk do investors need to see as we
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digest brexit, terror threats and a fed that has gone fishing for the summer and maybe the fall. to the floor show traders at the stock exchange, cme group and the nymex, you have been right on a lot of levels. make us right for the second half of the year. what are you looking for? >> the second half of the year is a tough call but you mentioned the punch ball, central banking is a big issue. mario draghi, lining up, will we have a summer filled with currency wars? we can have a nice one possibly. i wouldn't count on tomorrow. we have a rebound in place, short squeeze in motion, $20 billion put to the tape last friday and monday combined. a couple fundamental reasons for this push. tomorrow might be a day of profit-taking for those who show up for work. liz: to jeff grossman at the nynex, looking at the rearview mirror, oil equities trade that
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was attached at the hip for the least quarter of the year has blown out lately because the british exit has taken so much oxygen out of the room. oil plummeting intraday, down 3% in aftermarket session. the opec output is the highest in history, nigeria's oil industry is recovering, norway, that strike may be averted. you disagreed with me a couple days ago, i don't think so. right back where we started. >> that is why we have a market. is simple as that. today was a head scratcher, we had a disconnect with the equities and it was a bit of a surprise. most of what we saw was in the last half-hour or so. liz: we saw an attempt to get to the flatline. a decent drop right now.
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>> it is 3% or so. it is a reason for concern. if you look at it from a technical standpoint this market has not fallen away. it has its sharp point and held those friday and monday which tested everyone's resolve in many respects. i am not here to panic you, i think the glass is still half full. the market going into the summer, we see a little of that glut go away and a big driving season and the market will moderate and work slightly higher over the next month or two. liz: that is why we have a show. >> i expect that to happen. liz: that is how it works. i want to get to gary. what a fascinating investment lesson. our viewers have had over the past five sessions. when you see dramatic headline risk drop like you saw after the
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british exit, that may have been time to pick up names. >> take a look at the currencies and precious metals. after the announcement thursday, friday morning, depending on where you were, look what happened with those two markets in particular. what is surprising everybody right now, let's take a look at silver. if you take a look at that today has been an astronomical run. gold is negative, they move forward and backwards in the market and look at the currency, we are seeing a strengthening of the us dollar and a lot of that was because of the announcement, we have to go in and adjust these interest rate dollars and we saw imaging take off after that. these are signs for the us economy and find we will be looking forward to in the third quarter of summer months. liz: great to see you. have a good holiday. everybody, you need to watch wall street week tomorrow night.
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i will be there with anthony scaramucci, gary kaminsky and charlie gasparino and we are going to battle it out whether donald trump is right about taking china as a currency manipulator. you got to hear our thoughts on this because it does matter to your investments and trades for the united states of america. don't miss wall street we, friday at 8:00 pm eastern. the tao is holding onto gains at 209 points, let's take it to new hampshire, manchester, looking at life pictures of where donald trump is expected to speak at this hour. he will continue to push his trade agenda and his trade agenda is built on either tearing up or massively tweaking trade agreements in the past like the north american free trade agreement or at least the plan to put together the transpacific partnership. the billionaire businessman will be holding the event, new hampshire is the state that started a wave of primary victory that made donald trump the presumptive republican nominee.
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is his strategy working? he may have some work to do. according to a new fox news poll that is just out, donald trump trails democrat hillary clinton by 6 points in a head to head matchup. not a gigantic move up ahead but donald trump has hit hillary clinton hard on her ties to the obama administration trade policies, is challenging her to pledge to withdraw from her support from the transpacific partnership deal, a deal she once praised but now criticizes. fox news's peter duty was able to grab donald trump and scored an exclusive interview about what really matters to our viewers and that his trade. >> reporter: it was fascinating. he thinks part of the reason, if not the number one reason he continues to draw very big, very excited crowd is because he is taking such an aggressive stance against those international trade deals. that is part of the reason he chose a factory in manchester,
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new hampshire the backdrop for his speech, a big part of his platform is he will keep factories open, people will still be working in the united states. listen to what he said about why he things his message is resonating with voters in new hampshire and elsewhere. >> we have to put our people to work, the trade deals are ripping our jobs apart, they are ripping our country apart. i got it, i understand, you see the crowd i'm getting, nobody has crowd like we have. in this case, trade. >> reporter: trump is stressing the importance of being tough on terror. a little change from the way he reacted to the orlando attack, something like what happened in istanbul makes him look stronger in the eyes of voters. he doesn't look at it like that. he asked trump, have you noticed any change in the way the campaign is running, corey lewandowski, he told us he does not notice a difference in the
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way things are operating but very interesting in the last few minutes behind our live shot, corey lewandowski is here and that is remarkable because this is invite by only event, there are 200 locals from manchester area, trump supported and press and thatis it so corey lewandowski, went into the building where we can't go. a lot of secret service over there. and -- >> we are monitoring what is happening there. >> things are much better since corey lewandowski was jettisoned from having a real role. donald trump has certainly been true to what he said, he is
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friends with corey, this doesn't happen on the trump train. the closing bell 43 minutes away. can we quickly check something going on here? the tao is up 200 but look at mondelez. it is up 6-1/3%. the hershey board unanimously rejected the preliminary offer from mondelez for a takeover. the offer was $107 a share for hershey. why would any shareholder say let's settle for less? hershey stand at 112 but mondelez shareholders and investors are piling and. they like the fact that the deal doesn't look like it will happen. lions gate, the film studio behind the hunger games franchise dishing out $4.4 billion in cash and stock for premium tv network stars. the deal is affected close by the end of the year. lions gate pulling back by 41/4%, stars jumping 6%. up next dual dangers with global ramifications. the house of cards political drama unfolding in the united
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kingdom as we learn new details about the people, the murderers who carried out the deadly attack in turkey. we are talking turkey, terror, trade and the eu minus the uk minus boris. former ambassador to belgium howard gutman live in brussels on foxbusiness cameras.
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>> their identity surprised intelligence experts. turkish officials have ided the country of origin of the three suicide bombers in the attack at the ataturk airport. they are from russia, is becca stan and curtis stand but they have not been names. authorities in istanbul blaming isis for the coordinating of the attacks at the ataturk airport, 43 people killed, 230 injured. the group has yet to officially claim response ability. counterterror teams carried out 16 simultaneous raids in istanbul, detained 13 people including 13 foreign nationals in connection with the attack. house of cards has begun to unfold within british politics is leading brexit campaigner
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boris johnson announced he is not going to run for prime minister. this should not come as a surprise to viewers who have been watching us for a couple years as i asked him that exact question four years ago at the 2012 london summer olympics. listen. this crowd has been yelling prime minister. >> one very kind gentleman has been yelling that. >> is that an aspiration? >> of course not. liz: he said not an aspiration then and not an aspiration now. he is out, he announced that. there were audible gasps across the united kingdom. is he out for good or could he be the paul ryan of the united kingdom? we have to wait and see but as secretary michael gove is expected, was expected to back boris johnson in his campaign along with teresa may. those who are leading the 5 way race to be the next conservative party leader, what are they
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saying in brussels about this and the uk exit? forget the uk. should this be a wake-up call for the european union? joining me from brussels, former ambassador to belgium and former president obama 2000 campaign, ambassador howard gutman. this had to be a wake-up call for the european union. they can't say goodbye to the uk and you made my decision, it had to have been a big warning there were agitators in every country who may want to break up the european union. has the eu learned anything from this? >> they have gotten a wake-up call, and don't think it ever happened to them. there were signs in hungary, poland and austria, it will never happen but it has happened here. the question is how to pick up
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the pieces. >> they have an exit campaign, who knows if that will gain any traction. and upset people who like the trade and, a lot of bureaucracy. the european union think and want a stunning stat, and at the european union, paid more than david cameron, the united kingdom's prime minister. we have bloated salaries, skyscrapers a little excessive, what are they going to do that make sure they remain cohesive. >> it is not bloated bureaucracy. this is a populist movement, it always feels good to say, there is no job, didn't really mean to
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heck with the boss and want to be unemployed, and now i am out of work. if you want to see bloated administrations individual countries bloated administrations as well, we have an uprising, they didn't really mean it but now they have done it. what is going to happen? liz: you told connell mcshane brexit won't happen. don't know how you are sure that is actually the case. i know it was nonbinding but we have teresa may, the interior minister, one of the leading candidate of the conservative party, she was with remain, but she said in a speech brexit means brexit. we got to figure out how to fill the void of trade, that affect people of the united kingdom.
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>> they have gotten closer, but look at the fact, and what if i leave in october? boris johnson said i will be the successor, brexit means brexit. how about a year from now? i suspect johnson's hope was there would be an election and ultimately democracy would prevail but the remaining vote would be who is going to run, and upstate candidate will get elected. boris johnson had a funny thing happen on the way to the prime ministership, blindsided by michael gove and the people of the uk, we blame you for where we are now -- liz: got to be surprised, he was
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blindsided, and ambassador, thank you so much for joining us. ambassador howard gutman. former ambassador to belgium and closing bell, 37 minutes away, up next. are we about to hear yahoo's last year little? marissa myers working on selling off the efforts of the internet giant but the shareholder meeting could be a bigger cliffhanger than the highest mountain in the swiss alps. robert gray is at the yahoo shareholder meeting in santa clara, california. he is unlikely to your little but he will tell us what he can expect. more countdown on the way.
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>> not quite 4 july but you can expect fireworks at yahoo's annual shareholder meeting today. marissa mayer faces off with fed
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up investors. some are saying when you get paid $115 million over five years you should probably be able to fix the company but meyer has risked not succeeding. the struggling tech giant is down for the count. stock today down 1.5% so let's get to robert gray in california at santa clara with a preview of the meeting tonight and with the foxbusiness tech minute we are dying to know what performance we have seen and what could possibly happen? >> we are 90 minutes from the start of the meeting. shareholders want to know what is yahoo's next move and when will the company unlock the value in its investments, take a look at the stock chart, it took off when marissa mayer took off with the promise of potential of yahoo which is in turn around mode for the next day or so but performed quite well, 148%. over the year or so it languished, it is down during that time period, the activist
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investor taking 1.5% stake and agitating for change, spinning, rising revenues come a falling, last fiscal year, posted a net loss for the company and stock hovering around $36 a share, and if you look at the parts, they are valued worth more than the whole, yahoo's core business is 0. the market capitalization, $35 billion. if you look at 15% stake in ali baba that is worth $28 billion alone, 25% of yahoo japan $9 billion more and 6 billion on cash not to mention thousands of patents and real estate up the street in sunnyvale could be on the block as well. gene munster telling me it is worth $8 billion. he sees the stock at a $40 billion level. it is unclear who will be bidding in the auction but it is
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rumored to be verizon, at&t, google, microsoft once laid $48 billion down for yahoo but yahoo rejected that as too little for its operations in 2008 so we will see what happens. as far as marissa mayer, her severance package, just released that a week ago, if she does -- if she is ousted it will cost $55 million for her golden parachute. >> i was behind you when tim kugel, and growing exponentially. thank you very much. we will get you throughout the day, the latest developments. the internet blue chip, silicon
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valley, closing bell, 27 minutes away up another 230 points. all of the losses endured from last friday through monday when that stunner of a those where the uk says no more european union relationship came through and drenched the market. you heard this explanation. the enemy of my enemy is my friend. donald trump trading places with former clinton enemy bernie sanders, attacking hillary clinton on her ties to globalization and trade. hillary is extending her lead over trump. political panel up next to tell us the billionaire businessman's latest campaign trail comments moved the needle back in the other direction. we are waiting for donald trump to speak any minute in new hampshire. we will bring it back when countdown comes back.
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>> looking at an invitation-only crowd for donald trump, about to take the stage in manchester. he is at the loading dock, fixtures and expected to be his fair trade and, nominee hillary clinton, is this the type of talk citizens from the granite state no doubt want to hear if there are lost jobs. i'm joined by john hart from opportunity lives along with a democratic strategist. i will begin with you. former new hampshire senator and governor jud greg here the other
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day, talked about how nafta benefited new hampshire, created many opportunities, for new hampshire is canada of which nafta is a partner. does it really work? might work for all of new hampshire? >> trump deserves credit for tapping into people's grievances and understanding their concerns but his actual policies would create more grief, if you look at the company would the company be better off selling to 200 million people or 400 million people or more? that is what trade is about, opening markets to sell goods to other countries and do it in a way that doesn't compromise our sovereignty. more business in the united states. trump is on the wrong side of
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history. >> i suspect you might say he is on the wrong side of trade. let's say free trade, real positive for this nation, fair trade, we can't keep striking trade deals and watching jobs go away. what is the answer and does hillary clinton have it? a lot of people haven't heard it yet. >> a lot of people, as john said, trump is it hailing a resonant note. the problem is not whether he is right or wrong on the policy but he has been all over the place. he has used globalization, foreign workers, his own goods for trump facilities, he doesn't have any credibility on this issue. trade should be an issue and hillary clinton has been far more articulate on this issue than he has. i disagree with just about everything donald trump could
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say, i think it should be an issue in this election. >> that is a fair and balanced answer. you have to get to me on donald trump and how he manages to square with undecided voters that he has done what was talked about, manufactured elsewhere, but less extensive steal from other nations as well and stand in pennsylvania and since we got to bring back steel production so how do you do that? >> it will be difficult because he has been all over the map. what trump should do is talk about trade in a way that makes sense. instead of reverting to yesterday's economy talk about how to create a better economy tomorrow. liz: where is the talk about high technology? we need our farmers and we absolutely need our old-school manufacturing but the great greg barrett of intel used to run intel in its glory years, he used to say why are we funding? why are we giving incentives to yesterday's economies, we need
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them for tomorrow's economy in the united states. >> one of the benefits of trade is we have a system of economic interdependence where when great powers trade with each other they don't go to war and that is one of the biggest benefits we have had, accomplishments in the past 70 years. we haven't had a war between major powers because it is not in their economic interest to do so so trump needs to hit that note, talk about opening markets and the free enterprise system. liz: hillary has a slightly. how to she keep it and grow it? >> she has a lead because she has a defendable candidate who has been consistent and the goal for her campaign is to keep reminding people of the fact that donald trump is completely erratic and unqualified. he is doing a very good job than any democrat possibly could do.
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and like the bruce willis character in the sixth sense, i believe his kennedy the fee is dead but he doesn't know it right now. liz: when you have that many millions of votes and got to the presumptive candidate status, we shall see. john hart, opportunity lives editor-in-chief and democratic strategist, good discussion. only 16 minutes until the closing bell rings. the tao holding onto gains of 193 points. we need to close 316 points to the race 900 points lost friday through monday in the post brexit drama. you literally can't afford to change the channel. you don't want to miss finding out and forget the debate who is the next uk prime minister, charlie gasparino working phones and sources telling him the leave campaign has bigger fish to fry. what is that? he is going to cook up that story next. [vet] two yearly physicals down.
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liz: breaking news. we take it to manchester, new hampshire, donald trump has taken the stage, this is an invitation-only crowd. he took the podium and started off by thinking new hampshire for giving him his very first primary victory. way back when as you recall in the winter and it certainly was a success for him because it started and triggered a string of real successes the brought him to this position as the presumptive republican nominee. we will be monitoring what is going on in manchester, new hampshire, but in the meantime we know what is going on in the united kingdom at least on the side of the conservatives who have lost power. the mistakes in the political
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test came to determine who filled the political vacuum, who will be the next uk prime minister, never been higher. the leaders behind the scenes of the leave campaign have been criticized, say where is your plan? they have been in the shadows stressing the need for a plan. as it turns out an economic agenda could be on the table. breaking news, charlie gasparino has just obtained a secret outline. charles: of what the leave campaign, the folks, we have had some of them on the show. these, this is an economic agenda that focuses mainly on trade which we understand these people, the leave campaign, obviously what is going on in london, the uk is roiling post brexit, a vacuum of what is
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going to be happening next and step into that vacuum and put forward an agenda. we understand this agenda involves trade. how best to create trade deals with the eu post brexit, they are essentially looking to influence parliament over how to craft trade deals with other nations including the eu, i understand it is either we are going to get this, may slide a day but clearly they feel it is imperative the campaign feels it is imperative they step up to the plate, do it real soon because conservatives are not out of power, but they are in the middle of a really messy post david cameron trial phase where it looks like boris johnson who is part of the leave
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campaign, and a lot of turmoil. liz: support from the guy who is supposed to be lifting him up which is fascinating. real backstabbing moment. charles: i am not an expert on backstabbing in the uk. we don't backstab. >> we stab across the river. you go to cnbc, that is like reservoir dogs every day. they are all shooting each other constantly over there. we will get a policy agenda out of the leave campaign. liz: the european union is over it. now you have a resurgent russia who is going to be circling, bigger problems. charles: the eu needs the uk and
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here is why. germany sells more parts to the uk than any other country. they take it out on them -- charles: both sides. >> they feel they have britain has a low corporate tax rate. it is lower than ours. on the fiscal side it would be fine. it is mainly trade. all these trade issues that come up because essentially britain has to deal with many countries, not just -- >> we can take the shot of what is going on in manchester. donald trump said he will be taking questions, probably a friendly crowd because it is invitation only crowd. he is talking trade at the moment and you and i will be on
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wall street week talking about his grand proclamation that china is a currency manipulator. charles: what manufacturer that has, make america great again. liz: have you figured that out? charles: i have -- liz: a lot of what he is manufacturing is overseas. why don't his fans, are they not bothered by that? we will take the q and a once people there at the loading dock where they make lighting fixtures -- charles: i don't agree with his trade policy. on wall street week i thought you made a lot of good points when you said we should craft better deals. i am just saying if you look at net net, nasa has not caused the rustbelt to become rossi. it became rusty because -- liz: well before nafta.
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charles: technology, an old economy as opposed to new economies that are growing in silicon valley that create other manufacturing jobs is the way the world works. donald trump won't bring back the rustbelt through engaging in trade. liz: we do evolve. we are up 202 points. liz: remember what -- erased all the losses from friday. charles: i was right once in my life and that was when i was in london. i thought brexit was going to fail. i said if it does happen we are going to get an insane couple days but by midweek we should be okay. liz: what is interesting is nasdaq price action up 54 points. if you look at the intraday, the nasdaq, it has held all the games in the past 55 minutes. charles: the market thinks brexit is good for us. liz: three great days in a row and we have this rally
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stretching over the past couple days. you can see we are at session highs and what a tech wreck we saw last friday. charles: this is something the money manager we spoke to, bad with names, if you are going to invest in this market invest because of us policies. interest rate, economics, taxes, corporate earnings or if you are going to invest, take money out because you don't think they will be so great. don't do it based on brexit. brexit, markets through up headlines. take a view of the market based on real stuff. corporate earnings. liz: market is in the chair and mark, you took the opportunity during the drama of brexit to back up the truck and go equity schelling, what did you buy? >> investors always make the
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same mistake, they get this armageddon premonition and they sell and think it is never going to get better but in reality it always gets better, sometimes short-term sometimes long-term. when the market drops we are buying japan while it was low, we were buying europe, uk, small european uk stocks and small value stocks in the us. everybody knows you by when prices are low, sell when they are high but it is hard to do because your stomach and gut tells you not to do it. that is what investors need to focus on. liz: the tao holding onto gains of 200 but let's talk about small-cap value. small-cap growth done really well over the past year and that trade is over, you're going with small-cap value, cts corp. gibraltar industries is a housing play, componentsmaker up 53% over the past year. that give me a little nervous. you are okay buying something that has a great run-up?
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>> i don't want investors to go out and pick individual stocks. we own 2600 stocks in that segment of the portfolio. you want to buy stocks with a lot of market value with small price. these are distressed stocks. whether it is up 50% it is still distressed and in that situation, nobel prize says those stocks have a 3% to 4% higher expected return long-term. it is hard to buy them and they are distressed liz: all we need is another 113 or 14 points on the dow, before we have erased all big-time losses we saw on friday and monday. two minutes to go before the closing bell rings, what is number one lesson you want to impart to viewers who might be watching? >> look, investors need to stop trying to forecast the future. it was very difficult to predict what would happen in the vote. then it was difficult to predict what would happen immediately
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after. then how fast it would come back. stop trying to predict it. if you invest, nobody knows where the next 20% movement is going to be but we know the next historically 100% movement is up. focus on next 100%. try it r to other than out the noise. stay away from high dividend stocks. stay away from -- liz: whoa, we stay away from high dividend stocks. don't you pay. >> the give your own money back and give you back the amount and pay taxes on your own money. bad deal. liz: thanks. donald trump is speaking right now. the minute he takes questions and answers we're going to take it. we find there may be granularity what investors and voters are interested in hearing. with the dow jones industrials up 219 points. here comes the closing bell.
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david and melissa will pick it up. we nearly erased all the losses endured from friday to monday. [closing bell rings] melissa: stocks surging into the close. dow trading up 230 points. i'm melissa francis. david: looks pretty juicy there. i'm david asman. this is after the bell. here is what else we have for you at this hour. donald trump on the campaign trail. the presumptive gop nominee making his case on the economy and trade. voters in new hampshire, there is a live shot right now. new fox polls by the way of trouble, slippage for the donned. expected to take questions at any moment. as soon as that happens, we'll take comments to you live. campaign national spokesperson katrina pierson. how the candidate expects to turn it around before the rnc convention. impromptu meeting between former president bill clinton and the attorney general on the